According to credit card data, the number of transactions that were recorded during Black Friday increased by ten percent year-on-year, however, it said that the amount that was spent by the customers plunged as compared to that of last year.
The consumers spent 12 percent less while shopping using their Barclaycard last Friday as compared to the Black Friday of the previous year.
Barclaycard disclosed that it has processed an all-time record number of transactions last Friday, hitting 1,087 transactions per second between 12 pm and 1 pm, which surpasses the previous high of 1,081 on the 22nd of December 2017.
Konrad Kelling, the payment solutions managing director of Barclaycard, stated: “Our data shows that people have been making a higher number of less expensive purchases than at this time last year.”
“This suggests that, while Black Friday is clearly encouraging shoppers to buy, consumers are more likely to be purchasing smaller ‘treat’ products, rather than splashing out on high-end items.”
However, the data from Topcashback.co.uk suggests that consumer spending may have exceeded £1.5 billion for the first time in a single day in the United Kingdom, as customers and retailers participated in the annual bargain-hunting event.
Adam Bullock, the UK director of Topcashback.co.uk, stated: “It goes to show that while many remain cynical about Black Friday, and it is clearly more important than ever to do your research and check you really are getting a good deal, there is a clear demand for lower prices and savings in the run-up to Christmas.”
The popular items were fashion, electronics, beauty and health goods. The biggest savings were recorded on broadband packages, mobile phones, and on department store purchases.
The retailers who performed the best as of Friday evening were Ebay, Amazon, Debenhams, Look Fantastic, and Currys PC World.
The shopping event, which started as a day of sales in the United States of America on the day after Thanksgiving, will continue through the weekend. It will end with Cyber Monday.